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Delamar Fourplex

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Address: 301 Delamar Loop NW, Albuquerque, NM 87107, USA

Phoenix & Southwest + 2-4 Units

Created date: October 30, 2024

Date last updated: October 31, 2024

ABQ: Renovated Fourplex, ready for owner occupant – north valley location

NM Apartment Advisors and Deacon Property Services are honored to represent this rare opportunity to own a totally renovated corner lot 4-plex in the North Valley.

Located in an outstanding North Valley neighborhood with inviting curb appeal – right across the street from one of the area’s best parks and playgrounds. The building has been updated inside and out with fresh exterior paint, new xeric landscaping, and quality contemporary renovations to each of the 2 bedroom / 1 bath apartments.

All four fully remodeled apartments offer sleek luxury vinyl plank flooring, fresh paint, and quality modern fixtures throughout. Spacious and open floor plans offer an inviting living room with a fireplace (with a cozy electric insert).

Open kitchens boast new quartz counters, solid wood shaker cabinets (with quiet close hardware), and a new stainless appliance package (including dishwasher, microwave hood, gas range, and a counter depth refrigerator). Bathrooms are also totally redone with new shower surrounds, new fixtures, a large vanity (also with quartz counters), and a ton of built-in storage space.

Bedrooms offer new ceiling fans – one with a large walk-in closet. Residents also love the new full-size stacked washer / dryer in a pragmatic utility closet and plenty of off-street parking next to the building.

Solid rents in place now with room to push further. Located in a great North Valley neighborhood – close to great local shopping and restaurants, acequia trails, Los Poblanos, Los Ranchos, the Rio Grande Bosque, and I-25.

At the current average rents of $1,143, and an ask price of $612,598, the measures of investment performance include a price per unit of $153,150, price per square foot of $180.18, a GRM of 11.17, an after reserves cap rate of 5.90%.

If rents are raised to the market average of $1,350, the measures of investment performance improve to a before reserves cap rate of 6.86%.

17 page information flyer is available at www.nmapartmentaccom/apt/NMAA-Delamar301NW.pdf

Virtual tour of a virtually identical unit in an adjoining property can be found at http://www.nmapartment.com/delamar3d

Complete the online confidentially agreement for the property at http://www.nmapartment.com/delamardocs

Discover the Seller’s concession to the Buyer by emailing compensation@nmapartment.com with subject line: NMAA-2468301, which can be used for a Buyer’s brokerage fee or a credit to the Buyer.

Do not miss out on an opportunity to acquire a well-built fourplex in one of the strongest rental markets in the country.

Thanks,

Todd Clarke CCIM CIPS

CEO
NM Apartment Advisors Inc.
(505) 440-TODD

And

Kyle Deacon
Qualifying Broker

Deacon Property Services LLC
(505) 878-00100
kyled@deaconnm.com

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Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Property Types:	2-4 Units
Price:	$612,598
No. of Units:	4
Cap Rate:	5.75%
GRM /GIM:	11.17
Year Built:	1965
Year Renovated:	2023
Building Size:	3,200 Sq ft
Lot Size:	0.15 Acres
No. of Stories:	2
APN:	101406148615141802
Zoning Code:	R-MH
Buy Side Fee:	2%
Opportunity Zone:	No
Price per unit:	$153,150
Parking Spaces:	6
Property Website	Click Here